Wind Energy Foundation Market Size, Sales, Growth Drivers, Opportunities, Industry Trends by 2023

The global wind energy foundation market is projected to grow at a significant level, during the forecast period, on account of increasing demand for clean energy resources and rising number of installations in the wind power sector. Wind energy is expected to be the largest application in terms of value in the global power production during the forecast period (2016 – 2022), due to increasing government reforms and policies focusing on adaptation of renewable energy.

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Governments and manufacturers have shifted their focus to renewable energy resources as a result of depleting fossil fuel reserves, growing population and rapid industrialization across the globe.Based on site location, onshore is expected to be the largest segment in the global wind energy foundation market.

The factors driving the market include increasing awareness toward the benefits of renewable energy, easy availability of wind energy sources and significant growth in the number of commercial onshore wind farms in North America. The foundation for onshore wind energy projects is built on different types of terrains under challenging soil and environmental conditions. The onshore segment has been further categorized into raft, pile, well foundation and others.

Geographically, Asia-Pacific was the largest contributor to the global wind energy foundation market, in terms of value, in 2015, due to rising demand for clean energy in emerging economies such as China and India and expansion of energy sector in these countries.

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Major players operating in the global wind energy foundation market are Suzlon Energy Limited, Ramboll Group, OWEC Tower AS, Offshore Wind Power Systems of Texas LLC, Blue H Engineering, SWAY AS, MT Hojgaard and Statoil.

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